HOUSTON, Aug. 25, 2022 /PRNewswire/ -- Fifth Corner (www.fifthcorner.com), founded by industry veterans Tenel Tayar, Chad Braun and Kerr Taylor, announces that it, through an affiliate, has acquired Ella West in a strategic assemblage to its Ella Oaks Shopping Center.
Fifth Corner continues to execute its time-tested investment strategy with the strategic assemblage of Ella West. Ella West is a 3.77-acre site that contains a two-story 40,000 square foot building occupied by National Dentex and two future development pad sites. Ella West is located on 34th street adjacent to Ella Oaks and in the heart of the GOOF (Garden Oaks/Oak Forest) and Greater Heights submarket of Houston Texas. Because of the assemblage of these two properties, Ella West will increase access, both to W. 34th Street and to Ella Boulevard through Fifth Corner's Ella Oaks Shopping Center. The location enjoys an average household income within a 1-mile radius of $131,000 with 126,000 people in a 3-mile radius.
"The Garden Oaks/Oak Forest and the Greater Heights area is one of the most dynamic and increasingly desirable areas of Houston," says Tenel Tayar, Co-Founder and Managing Partner at Fifth Corner. "The strategic assemblage of Ella West with Ella Oaks will provide improved access and development opportunities that should enhance the value of both properties and better serve this wonderful community."
Fifth Corner focuses on creating value on community focused Irreplaceable Corner™ properties' within the major markets of Texas.
"The opportunities we see with Ella West touch on virtually all of our value creation objectives: assemblage, re-development, merchandizing mix and even potentially a covered land play," said Chad Braun, Co-Founder and Managing Partner at Fifth Corner. "The ability to curate multiple free standing pad sites with exciting retail concepts along 34th Street and the potential for an enclave of boutique multi-family integrated into this mixed-use project epitomizes our mission of creating value on community focused Irreplaceable Corner properties."
ABOUT FIFTH CORNER
Fifth Corner is a Houston-based real estate company investing in and creating value on community-focused Irreplaceable Corners™ located in the fastest growing metros. The real estate strategy and culture are time-tested and refined over 30 years to create value for the properties, investors, and communities.
Certain information contained in this material constitutes "forward-looking statements," which can be identified by the use of forward looking terminology such as "may," "will," "should," "expect," "anticipate," "objective," "strategy," "plan," "project," "estimate," "intend," "continue" or "believe" or the negatives of those terms or other variations of them or by comparable terminology. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements.
FOR MORE INFORMATION CONTACT:
Chad Braun: 281-251-5550
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SOURCE Fifth Corner